WASHINGTON – Sales of existing homes fell 3.1% in October, and were 1.6% below data for October 2007, the National Association of Realtors reported today.

There were 4.98 million existing homes sold in September, compared with 5.14 million in September and 5.06 million in October 2007.

"Many potential home buyers appear to have withdrawn from the market due to the stock market collapse and deteriorating economic conditions," National Association of Realtors Chief Economist Lawrence Yun said in a statement.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.